SBA FINANCING ROADMAP BUSINESS ACQUISITION EXPERIENCE THE LIVE OAK BANK DIFFERENCE Live Oak Bank specializes in acquisition financing across all industries nationwide. Our dedicated mergers and acquisitions lending team has extensive Small Business Administration (SBA) expertise. Our team will help you understand the process of acquiring a business structured with SBA financing. Start (3-5 Days) Bank Underwriting Approval (7-10 Days) Prequalification (3-5 Days) Beginning of Loan Closing Process (2-4 Weeks) Fulfillment of Application Checklist (2 Weeks) Funding/Transfer of Ownership (2 Weeks) • Buyer contacts LOB • LOB reviews initial buyer and seller financial information • No cost • LOB credit executive analysis and borrower discussion • Delivery of final approval and commitment letter • Expression of interest letter with proposed structure • Buyer starts life insurance process • Deposit for business valuations and appraisals may be collected ($2,500-$5,500) • Closing needs list presented to buyer • Business valuation ordered • Collateral appraisal ordered • Lease/Landlord waiver • Life insurance process complete with bank assignment • Review of LOB seller subordination • Execution of final PSA • LOB conducts business site visit • Buyer and seller complete application questions • LOB analyzes and organizes information for loan submission • LOB loan documents presented to buyer for signature at escrow • Buyer(s) sign with LOB • Buyer and seller sign final escrow documents • Documents recorded • Loan closed/money wired to escrow Heather Endresen, Senior Loan Officer CONGRATULATIONS! Total Duration: Typically 6-10 Weeks [email protected] 714.404.3648 [email protected] 425.999.2042 ©2017 Live Oak Banking Company. All Rights Reserved. Member FDIC. Lisa Forrest, Senior Loan Officer Contact Our M&A Lending Team